LONDON (Alliance News) - Frontier IP Group PLC on Wednesday said it signed an agreement with the Faculty of Science & Technology within the Universidade NOVA de Lisboa in Portugal, to assist with its spin-off and licensing activities emerging from its research programmes.
Frontier will work with the university to maximise the commercial value of intellectual property developed within or owned by the faculty, with Frontier receiving a share of equity in each spin-off company created by the faculty as well as a share in the licensing revenue it receives.
The collaboration aims to accelerate value creation from the research generated within the faculty and provide access to early stage funding, commercialisation expertise and a wider network of industrial partners.
This is Frontier's second partnership in Portugal.
"We are delighted that FCT NOVA has chosen us as its commercialisation partner. This agreement gives us access to FCT NOVA's excellent research base and builds on the strong relationships with the industrial partners and academic institutions which we have already established in the region. We are looking forward to working with FCT NOVA to further develop and commercialise its strong intellectual property portfolio," Chief Executive Neil Crabb said in a statement.
Shares in Frontier IP were trading up 1.4% at 33.60 pence on Wednesday afternoon.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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